Chinese Heritage Film "Diary of a Nurse" Restored by iQIYI and NIP Selected for Screening at Cannes Film Festival

BEIJING,May 15,2019 -- The restored version of Chinese heritage film Diary of a Nurse (1957)(the "Film") has been selected to be screened at the Cannes Film Festival (the "Festival") as part of a series of restored films for the festival's "Cannes Classics" segment. The film was restored jointly by iQIYI,Inc. (NASDAQ: IQ) ("iQIYI" or the "Company"),an innovative market-leading online entertainment company in China,and New IPicture Media (Shanghai) Co.,Ltd. ("NIP"). The film stood out from over 200 restored heritage films,becoming the first restored Chinese heritage film to be screened at one of the world's three most prestigious film festivals in Cannes,Venice and Berlin. The film's selection not only marks the international film industry's recognition of Chinese film restoration standards,but also the unique artistic value of heritage Chinese films.

Chinese Heritage Film “Diary of a Nurse” Restored by iQIYI and NIP Selected for Screening at Cannes Film Festival

Based on the overall significance that heritage films have had on the development of film industry,film restoration has become a field of growing importance. The restored version of Diary of a Nurse marks the first film to be restored and re-released under iQIYI and NIP's joint "Copy and Restoration for World Classics" project (the "Project"). The project represents the company's ambition to restore Chinese heritage films at a pace of three to four films per year over the course of the next four to five years,and screen them at prestigious international film festivals around the world. Upcoming film restorations of Chinese heritage films under the project include The Peach Blossom Fan (1963) and Family (1956).

"Due to the fragility of early film,the restoration process becomes more difficult as the film ages and that's why it's crucial for us to dedicate ourselves to restoring these heritage films early on," said Yang Xianghua,iQIYI President of Membership and Overseas Business Group. "However,as technological development continues to drive advancement of the film industry,we are constantly discovering new methods to better restore and preserve film classics that are significant to Chinese film culture. We will continue to support and promote the restoration and preservation of heritage films in order to bring more Chinese film classics to global audiences."

Under the project,not only will the restored films be premiered at internationally renowned film festivals,but they will also be presented to audiences through other methods of distribution. For example,during the premier of Diary of a Nurse at the 2018 Shanghai International Film Festival,the restored film also premiered simultaneously on iQIYI's online video platform. In addition,aside from film restoration,iQIYI is also committed to the restoration of classic Chinese TV dramas. In March 2019,the company officially launched its "Digital Restoration Project for TV Classics",to roll out online releases of 100 Classic Chinese TV dramas,of which half will be digitally restored.

iQIYI's dedication to film restoration is also showcased through partnerships with professional institutions as well as its utilization of leading technology. With the support and guidance of China's National Radio and Television Administration,iQIYI has conducted restorations on multiple classic Chinese TV dramas including The Railway Story (2002) and Life Show (2002). This was done using the company's self-developed ZoomAI technology,which allows film to be restored with high precision and standard,smoothening playback fluidity and improving the overall viewing experience of audiences. iQIYI has also partnered with the China Film Archive to restore Chinese heritage film Yearnings (1990) through an image quality enhancement method based on neural networks.

About iQIYI,Inc.

iQIYI,Inc. (NASDAQ: IQ) ("iQIYI" or the "Company") is an innovative market-leading online entertainment service in China. Its corporate DNA combines creative talent with technology,fostering an environment for continuous innovation and the production of blockbuster content. iQIYI's platform features highly popular original content,as well as a comprehensive library of other professionally-produced content,partner-generated content and user-generated content. The Company distinguishes itself in the online entertainment industry by its leading technology platform powered by advanced AI,big data analytics and other core proprietary technologies. iQIYI attracts a massive user base with tremendous user engagement,and has developed a diversified monetization model including membership services,online advertising services,content distribution,live broadcasting,online games,IP licensing,online literature and e-commerce. For more information on iQIYI,please visit http://ir.iqiyi.com.

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